Calabasas, CA – March 5, 2008 - BlackLine Systems, a leading provider of software applications that automate the entire financial close process for accounting departments, today announced record sales and new customers in 2007.
Sales grew more than 350 percent on a year-over-year basis for the fourth quarter of 2007, with many more large multi-national organizations now using BlackLine’s enterprise-level software to optimize their financial close activities and many small to medium-sized companies subscribing to the company’s OnDemand solution. BlackLine’s suite of financial close optimization solutions are reducing the time it takes to close the books and report, as well as ensuring management’s capability to better control these key activities.
Customers include AT&T, Cox Communications, Northrop Grumman and Pepsi Bottling Group.
“Word is spreading and our user base is really taking off. Several thousand people in accounting departments around the world now use BlackLine’s Account Reconciliation module each month to ensure and control the integrity of the information presented in the financial statements reported to stakeholders,” said Therese Tucker, Chief Executive Officer, BlackLine. “BlackLine software is providing more and more CFOs with the capability to exert a tighter ‘band of control and communication’ over the tools, applications and processes used to perform the financial close process.”